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wiredFINANCE: Simplify XBRL With Automated Finance Tools
April 2, 2010
Finance departments that have been holding out on an investment in new technology tools should take a closer look as they begin to transition to XBRL filing. The tools can assist with a lot more than XBRL compliance.
Can XBRL Finally Automate Finance? | Source: The Big Fat Finance Blog.
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In January 2009, when SEC
In January 2009, when SEC issued its XBRL mandate, it specified four levels of XBRL tagging that companies would be required to file.
Get the facts
XBRL is a standards-based
XBRL is a standards-based way to communicate and exchange business information between business systems. These communications are defined by metadata set out in XBRL taxonomies, which capture the definition of individual reporting concepts as well as the relationships between concepts and other semantic meaning. Information being communicated or exchanged is provided within an XBRL instance. life skills
XBRL is a standards-based
XBRL is a standards-based way to communicate business and financial performance data. These communications are defined by metadata set out in taxonomies. Taxonomies capture the definition of individual reporting elements as well as the relationships between elements within a taxonomy and in other taxonomies. web design newcastle
Users can easily create XBRL
Users can easily create XBRL documents without having to take the pain of learning the nuances of XBRL specifications. All the complexity of XBRL specification is managed in the background by Ez-XBRL allowing the users to focus on the financial information. Cruises From Southampton
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Hmm, your blog is very informative........
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I think these tools are
I think these tools are definitely a must to use. You really have to do your research on this in the future. Your company will definitely benefit so much from it. Sexy Lingerie
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It’s a unique article having some interesting news about the culture, i like it. Its really fun and cool. But i want to know something more about this…
I was very happy that I
I was very happy that I discovered this website. I needed to thank you for this excellent information!! I undoubtedly appreciated every bit of it and I have bookmarked your blog to check out the new stuff you post down the road.
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This is very educational
This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post! HoMedics Foot Massager
In this day and age where
In this day and age where there are so many tools that will aid certain types of concerns, softwares like these are many. They lessen human intervention and provide smart and accurate data when needed, whenever, wherever. - Dean Spasser
As an HR Consultant I'm
As an HR Consultant I'm always open to explore new technology and ideas, so I can pass on the knowledge to my clients. So far I've had really good results with Ultimate Software. Their performance management module is really good and pays for itself many times over in time if you have someone who knows what they are doing. I've also heard good things about SAP ERP and Peoplesoft. Personally, I prefer open source due to the cost, since not every company can afford Ultimate Software or all the modules of SAP. With bigger companies they can usually get a custom version made in India with the same functions for about the same cost as a yearly subscription, which is still a pretty good deal. Much like what we did with muay thai camps in thailand and muay thai.
YTPL houses a capable and
YTPL houses a capable and result oriented team of professionals and managers who can assist you with a wide range of solutions ranging from ERP implementations to email campaign management.
I'm not sure that you can
I'm not sure that you can ever fully automate financial information processing, but every little bit helps. I know some financial managers who love using automation tools to make their lives easier. If you can cut down the amount of time you spend on something while maintaining quality and accuracy, why not?
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I completely understand your point of view expressed here. I work as an online Forex broker and I do know many companies using XBRL. That can save costs and streamline their processes for collecting and reporting financial information. Consumers of financial data, including investors, analysts, financial institutions and regulators, can receive, find, compare and analyze data much more rapidly and efficiently if it is in XBRL format. XBRL can handle data in different languages and accounting standards. It can flexibly be adapted to meet different requirements and uses. Data can be transformed into XBRL by suitable mapping tools or it can be generated in XBRL by appropriate software.